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Live Market Updates: Sensex, Nifty up 1%; Modi addresses LS ahead of Budget

It’s a terrific day on Dalal Street as the market is enthused by the Economic Survey and government’s commitment to fiscal consolidation. The Nifty scored a century hitting 8800 while the Sensex rose more than 400 points.

14:05

The News International Team
 
It’s a terrific day on Dalal Street as the market is enthused by the Economic Survey and government’s commitment to fiscal consolidation. The Nifty scored a century hitting 8800 while the Sensex rose more than 400 points.

The Macro-Economic Survey for FY15 painted an optimistic picture says India has reached a sweet spot and there is scope for big bang reforms now. FY16 GDP growth is seen at 8.1-8.5 percent. Economic Survey says the government will adhere to a fiscal deficit target of 4.1 percent of GDP in FY15.

The Sensex climbed up 401.94 points or 1.40 percent to 29148.59 and the Nifty rose 130.40 points or 1.50 percent to 8814.25. About 1713 shares have advanced, 989 shares declined, and 199 shares are unchanged on the BSE.

The market will have special trading session on Saturday for Union Budget FY16.

Pratik Gupta of Deutsche Equities says Union Budget will be growth oriented like the Rail Budget was. He expects much higher allocation to banks for recapitalisation. He also says the brokerage will buy Indian markets on every dip.

Shares of ICICI Bank, L&T, Sesa Sterlite, Tata Power, Tata Motors, SBI and Hindalco topped the buying list on Sensex, up 3-5 percent.

Global markets are quietly positive. China closed with gains of more than 0.3 percent while European markets too traded in the green. Investors are closely watching the second reading of the US Q4 GDP numbers later today. Analysts expect US GDP growth of 2.1 percent after 3.9 percent in third quarter.

13:00

Economic Survey: Market flexes muscles for Budget, Sensex soars 400 pts

Tata Power, L&T, Hindalco, ICICI Bank and Sesa are top gainers in the Sensex. Among the losers are ITC, GAIL, Wipro, TCS and HDFC.

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12:00

Economic Survey: Sensex up 300 pts: Govt retains FY15 fiscal deficit targetRead More »

The market extended southward journey after the government promised to keep the fiscal deficit target at 4.1 percent for FY15. The Sensex rose 318.35 points or 1.11 percent to 29065.00 and the Nifty jumped 106.60 points or 1.23 percent to 8790.45.

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11:00

Nifty below 8750; ITC falls 2%, TCS & GAIL laggardsRead More »

L&T, Tata Power, Coal India, Sesa Sterlite and Hindalco are top gainers in the Sensex. Among the losesr are ITC, GAIL, TCS, Wipro and HUL.

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10:00

Sensex up over 100 pts; L&T, Tata Power lead gainersRead More »

The market bounced back today with the Nifty reclaiming 8700 level on first day of March series, supported by banking & financials, capital goods and metals stocks

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09:15

Sensex, Nifty open strong on Mar series; eyes on Eco surveyRead More »

Tata Power, L&T, Tata Motors, Sesa Sterlite and SBI are top gainers whle NTPC, ITC and TCS are among the losers in the Sensex.

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